Italy discusses proposed regulations with cryptocurrency companies: ”US and Europe have different approaches”

The Italian Central Bank (Banca d'Italia) and securities regulator CONSOB are consulting with cryptocurrency companies to develop a framework for financial and cybersecurity risk management.
At the 31st AsioForex Conference held on the 15th, Italian Central Bank Governor Fabio Panetta said:
Panetta reportedly discussed global and European regulation on crypto assets, digital finance, and cybersecurity risks.
Panetta emphasized that the cryptocurrency ecosystem is under global regulatory scrutiny due to issues such as money laundering and financial stability, and said, "Europe should implement a 'cryptocurrency exchange' to protect investors."
"Although the US introduced the Markets in Securities Act (MiCA), the US continues to regulate crypto assets separately based on whether they are classified as securities or not."
Panetta explained the differences in how the US and Europe regulate cryptocurrencies, and noted that Donald Trump
He noted that the executive order on digital financial technologies issued by the Trump administration on January 23 suggests a move to integrate crypto assets into the financial system.
He said cryptocurrency companies that exploit regulatory differences risk undermining the integrity of the financial system, and that "these regulatory differences between the U.S. and Europe are
"Once the position of the U.S. authorities becomes clearer, it will need to be carefully evaluated and the international implications will also need to be closely analyzed."
Panetta also said that the Bank of Italy and CONSOB will work together to improve Italy's securities market regulations.
It said it was strengthening its controls.